Is any industry more exciting and dynamic than NIL right now? ICYMI, the 2023 NIL Summit was a showcase of many amazing young individuals and a glimpse into the future of not just collegiate sports, but our next generation of leaders. Rest assured – the future is BRIGHT!
INFLCR was there to help guide student-athletes navigating the ever-changing NIL landscape while learning how to build their personal brands and optimize opportunities. But we’re the ones who came away inspired by their creativity, ambition, and conviction. Here’s a quick recap of what we learned from this year's Summit.
The Power of Connection
With year two of NIL complete, it’s clear the force driving rapid change in collegiate sports is this community of ambitious student-athletes. The NIL Summit brought together like-minded individuals who often don’t have the time in their schedules to connect with one another.
Two days were dedicated for this exclusive and diverse group of young innovators, creators, and entrepreneurs to connect, learn from, and celebrate one another. While the scheduled presenters and sessions were inspiring and informative, the real value was in the organic conversations and collaborations happening in the gaps.
Impact Over Influence
We see you! Student-athletes want to be respected as individuals beyond simply their records, stats, and championships. They have values, talents, and dreams outside of sports which is truly what draws people to these influencers and content creators.
While NIL has provided fame and $$$ to student-athletes, it was clear that the majority of those attending the NIL Summit cared more about impact than influence. They want to do things for the right reasons, be true to themselves, and make a difference in their communities.
This was evidenced by the popularity of lululemon’s session on Discovering Your Core Values. This interactive workshop helped student-athletes identify and articulate what was most important to them to help guide their behavior and decision-making. The conference hall buzzed with energy and excitement at the end of that session.
Graduating and transitioning into the next phase of life is anxiety-inducing for any college student, but especially for student-athletes. While employers will tell you they love hiring former athletes because of their mindset, grit, and other intangibles, the fact is that the life of a student-athlete isn’t conducive to getting a meaningful internship.
But student-athletes participating in NIL deals have been put into an “adulting microwave”. Overnight, they’re forced to quickly learn how to be a small business owner. From invoicing clients to filing taxes to investing in their business (and themselves), student-athletes are gaining incredible life skills that build confidence and lay the foundation for future success. The experience these young people are getting is arguably better than any coffee-fetching, grunt-work internship.
Following Their Lead
While we’ve been a NIL tech innovator – providing the most trusted, no-fee platform for content sharing and NIL management – we’re happy to follow the lead of these ambitious young individuals. The NIL Summit is an opportunity for us to hear more about what student-athletes and schools want and need from our technology and our partners.
Last year we heard how taxes were a big problem. So we partnered with Intuit to provide educational resources and more. We also heard that determining how much to charge was a challenge - so we partnered with On3 to show an athlete’s Fair Market Value directly within the INFLCR app.
We’re excited to continue providing schools and student-athletes with better ways, more opportunities, and valuable education and resources to make the most of their NIL. To learn how INFLCR can help your college or university, please contact us.